Iranian Crude Exports Drop Amid U.S. Blockade

Iranian crude exports have decreased by nearly 70%, reaching approximately 567,000 barrels per day, following the U.S. blockade of maritime traffic to Iranian ports near the Strait of Hormuz. According to NS3.AI, Kpler analysts indicate that Iran's unused crude storage capacity is limited to 12–22 days. Goldman Sachs projects that production losses in the Persian Gulf, amounting to 14.5 million barrels per day, are depleting global oil stockpiles at a record rate of 11–12 million barrels per day through April. The impact on revenue may be postponed by 3–4 months due to the time required for cargoes to reach China and the payment cycles involved.